Thursday, May 10, 2018

I listed and sold 10702 Meadowhill Road, a 4 level split in White Oak, a part of Silver Spring, MD.

The house is in Northwest Branch Estates, boasts 4 bedrooms and 2 baths upstairs, a 5th bedroom with bath one level down. The main level has a kitchen, of course :-), dining room and living room plus access to the deck in the backyard. Down one level, on the same level as the 5th bedroom is a family room with a side entrance to the driveway. The lowest basement is a recreation/office area plus workshop.

We listed the house on a Sunday morning and 3 days later we were under contract with a strong as is offer from the buyer.

Unfortunately it was a tight situation financially and the buyers worked with us in moving up the settlement date to beat a foreclosure notice, so it could be a clean sale, the seller could get some proceeds from the sale of the house. With the quick and sudden settlement, the buyer allowed the seller to do a 45 day rent back With a great team effort from surrounding friends and kind people, we were able to help the seller pack what she needed to take, get rid of items she didn't need and get the house empty and clean for the buyer.

Special kudos to the settlement company for going above and beyond in not just regular communications but working to keep everyone calm and focused, during a particularly intense sales process. It's never easy for someone to move after living in a house, being part of a community for over 20 years.

Best wishes to the seller and buyer on their next steps.

If you or anyone you know is thinking about moving or has a real estate question, I would love to talk even if you aren't ready to buy or sell. Call: (301)943-4370 or email: adambashein@gmail.com.

Right before Easter I sent my renters a happy holiday note and let them know I was going to be out of communication a few days.

My renters responded saying thank you, we wish you a happy Passover and they plan to send me some happy news.

They emailed me last Wednesday. Opens up with 1 of them recently getting a great new job and them recently getting engaged, how much they love my condo and it has been a special place.

I am waiting for the next paragraph about moving but...

They continue that with the new job they will be in DC at least a few more years, would love to stay and even extend with a multi year lease, as I had present to them when they considered the condo last summer.

I'm thinking, "HECK YEAH", and after a short time period of analyzing the situation and the market, replied saying let's extend the currently lease by 2 years through and including the the end of July 2020 with proposed rent of $X that will be kept in place during that time.

And....this morning we are fully signed off on the lease extension!!!

This is so fabulous. Our lease was set to end July 30 and they had to give me 60 days notice of their intentions (the end of May) and now a lease is extended roughly a month and a half ahead of the game. I can now relax on Memorial Day Weekend, lol.

If it had been signed off yesterday, then it would have literally been de ja vu all over again! A few years ago on April 10, my previous tenant and I also agreed to a 2 year lease extension.

Two of the best moves I have ever made were buying a condo, even while a single guy and keeping the condo as an investment property when I got married. It has really paid off and I burned the mortgage a little back. I treat the condo like a business and have been mostly blessed with good renters and income.

Have you ever thought about buying an investment property? We should talk.

Top of the morning to you!

Have your colleagues, family or friends ever talked about buying an investment property, whether as a place they would first live in and keep as a rental when they move or buy a place to rent out right away?

I would be happy to meet and discuss the topic with them. Even if they aren't in the market to buy or sell but have a real estate question and want to talk about the market, have them contact me: (301)943-4370, adambashein@gmail.com for high service and low pressure. I always gave time for and appreciate your referrals.